NEW DELHI : The rise in petrol and diesel prices has been fluently making headlines these days. There is a major hit on common man’s pocket in all metropolitan cities across India. It is basically common thing that the price of fuel in India depends upon global crude oil price and the fluctuations leads to pay high price at petrol pump stations.
Petrol Prices in Metropolitan Cities are here:
||PETROL PRICES (Rs./Litre)
But now it is discovered that the prices of the crude oil have declined in these three years. If we talk about previous UPA government, they had taken a barrel of crude oil @ Rs. 6330.65 during may 2016 whereas now the crude oil price is almost on halved to Rs. 3368.39. So why this NDA government raised prices to Rs. 70-80 whereas neighboring countries selling petrol on cheaper rate as compared to India. However, a terror hit Pakistan sells petrol at Rs 42.14per litre, Nepal (Rs 61.24 per litre) and Bangladesh (Rs 69.91 per litre) which almost less than what India is serving on a gold plate for their aam janta. This is really surprising if we look out prices of South East Asian Countries like, Malaysia is providing petrol at Rs 32.19 per litre which was less than half what in India cost.
Retail Prices Of India as well as other South Asian Countries (On September 1, 2017) are here:
The high prices of fuel in India is seemingly confusing due to fluctuations to 2 paise to 7 paise on everyday basis. However the reason is very much clear that due to 45%-25% taxation on fuel price which is far much higher than what would be bought under Goods And Services Tax(GST). If fuel and diesel price also added under GST, then the highest tax rate of 28% is levied. The economic reason was that market forces should determine fuel prices not the existing government party. Also NDA government taken the benefits of consumers of low oil price due to generating a big sum revenue from taxation amount on fuel which is globally much cheaper.
The Congress Party blame Modi government for their lack of interest on aam janta’s budget which is highly affected by hike in fuel prices in India. Congress Party demanded revocation of central excise duty and other taxes which will benefit oil marketing companies in India. Congress Spokesperson Ajay Maken launched a campaign at several petrol pumps across Delhi to protest against hike in petrol and diesel prices and collected 10 lakh signatures by common people who are deliberately suffering because of lack of response and judgement of existing government. These signed petitions will be submitted to Prime Minister Narendra Modi and the Chief Minister of Delhi Arvind Kejriwal.